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Tight regulation is making survival harder for craft breweries amid the shutdown

Minnesota`s tight liquor industry regulation has been proving as an issue for producers for some time. Currently, regulation has come up as one of the issues that might contribute to breweries going out of business, thus in addition to their lack of revenue. Breweries have expressed that they might not be able stay in businesses if the stay at home order is extended beyond May 13th. The current stay at home order runs until May 4th but there is a chance it might be extended. The possibility of extension is what spells doom for most small businesses who do not have...

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Uncertainty regarding the shutdown is what is more threatening to businesses and the economy

When the Coronavirus started the first thing that happened was the closure of service businesses. In Minnesota Governor Walz ordered the closure of dining places and bars to close on March 16th.  This extended to a stay at home order for non essential businesses that was set to expire early April, but was extended till May 4th. Governor Tim Walz has amended the current stay at home order to allow for some businesses to return to work. Specifically those businesses requiring least contact with consumers, as long as workplaces can maintain distancing as well as disinfecting procedures. For the rest of...

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Census Bureau data shows a slowdown in new Business formation

Yesterday I wrote about how research has shown that new and young (0-5 years) businesses are the huge part of economic growth. Small and new businesses are going to be a huge contributing factor in the recovery of our economic system. Unfortunately, data from the census bureau shows that there has been a slow down in the number of applications for new businesses. The whole nation is facing a decrease in the number of applications compared to last year. This trend if it continues will impede the recovery process of the nation. National Figures  According to the US Census Bureau the  United states...

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Research shows new and young businesses account for a large share of growth

According to a recent NBER paper, researchers have found that, New and young firms (ages 0 to 5 years) account for almost one-half of growth – three times their share of employment. Large established firms contribute only one-tenth of growth despite representing one-fourth of employment. One other major finding of the paper is that, through innovation and improvements on their own products tend to make up a large part of the growth in effectively lead to long run growth. A majority of growth takes the form of quality improvements by incumbents on their own products. New varieties and creative destruction contribute less, but...

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TOMORROW: How Regulations Affect Your Everyday Life

[embed]http://www.youtube.com/watch?v=6bu7gt8fDa8[/embed]   Sign up HERE! Join economist Martha Njolomole as she explains the hidden cost of business regulations in Minnesota, and how even big-government politicians have been eager to throw inefficient regulations out the window because of COVID-19. After the presentation, Martha will answer your questions in a live audience Q&A. Submit your questions in advance by clicking here! Thursday, April 23rd at 12:00 PM Sign up for this free, online webinar HERE!...

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You can now take out wine and beer with your food order

On Friday, April 17th, Governor Walz signed into law an amendment allowing licensed restaurants to sell alcohol to-g0. Governor Walz signed the bill after it was passed by the Senate (65-2) and the House (129-1). The legislation took effect over the last weekend on saturday April 18th. When speaking on the law Governor Walz said; This is a small but important step to provide relief for the local restaurants that are struggling to keep their lights on during this pandemic.This will allow Minnesotans to continue to support their favorite local businesses. The restaurant industry is finding creative ways to keep Minnesotans...

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